Given Freedom of Movement for Both Goods and Resources, If

question 125

Multiple Choice

Given freedom of movement for both goods and resources, if Florida producers specialize in oranges and Georgia producers specialize in peaches, it would be reasonable to conclude that

• A) the opportunity cost of growing oranges is higher in Florida than in Georgia.
• B) Georgia has a comparative advantage in producing oranges.
• C) Florida has a comparative advantage in producing oranges.
• D) total output will be expanded when Georgia allocates more resources to producing oranges and Florida allocates more resources to producing peaches.

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Definitions:

Sample Means

The average value of a set of data points drawn from a larger population, representing an estimate of the population mean.

Analysis of Variance

Analysis of variance (ANOVA) is a statistical method used to compare the means of three or more samples to determine if at least one of the sample means is statistically significantly different from the others.

Population Variances

Population variances measure the variance of a given characteristic within an entire population, representing the dispersion of data points from the mean.

Multiple Comparison Methods

Statistical procedures used to determine if there are significant differences among group means in a dataset.